Cash Crunch Effect: China B-Shares Tumble in Afternoon Trading
iFeng: 上证B指午后放量大跌逾3% 多股逼近跌停
Fox Business: China Shares Inch Up Despite B-Share Slump
The index tracking the dollar-dominated Shanghai B-shares tumbled as much as 3.9 percent, before closing 1.7 percent lower, posting its worst day in two months. Shares traded in Shanghai and Shenzhen exchanges in foreign currency are B shares, while A shares are those denominated in yuan.
“The sharp drop in the Shanghai B-share market, is mainly due to investors’ concerns over tight liquidity in the country’s interbank market and stepped-up regulation on domestic financial institutions,” said Yang Weixiao, an analyst with Founder Securities, adding the soured sentiment could spread to the A-share market.